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FDIC-Insured - Backed by the full faith and credit of the U.S. Government

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FDIC-Insured - Backed by the full faith and credit of the U.S. Government

Simply Free Business Checking

Simplify your business banking with Simply Free Business Checking! There's no minimum balance and zero monthly fees—perfect for most businesses.

Account Overview

  • 1,000 FREE monthly transaction items1
  • No minimum balance
  • No monthly service charge2

What you get for FREE

1Transaction items include: deposits, checks, deposited checks, other debits, credits, ACH, and other automatic transactions. If the Simply Free Business Checking or Business Interest Checking exceeds 1,000 free monthly transactions, the account may be converted to another checking type.

2Other charges such as non-sufficient funds, overdraft, continuous overdraft charges, etc. may apply. See our service charge schedule for details. Minimum opening deposit is only $50. Other restrictions may apply.

Business Account Checklist

Be prepared for a smooth account opening process with this list of items.

  • SSN or EIN of Owner
  • Required Business Information
    • Business address
    • Business mailing address if different than business address
    • Email address
    • Phone number
  • TIN of LLC—Notice of EIN from the IRS
  • Articles of Organization
  • Operating Agreement
  • Required Business Information
    • Business address
    • Business mailing address if different than business address
    • Email address
    • Phone number

The following information is needed for Beneficial Owners. Beneficial Owners are individuals who directly or indirectly own 25% or more of the legal entity and/or the individual who has significant responsibility for managing the legal entity:
  • Name
  • Physical address
  • Date of birth
  • Social Security number
  • Valid government-issued ID
  • Phone number
  • Percentage of ownership
  • Title/position
  • TIN of Partnership—Notice of EIN from the IRS
  • Partnership Agreement
  • Certificate of Partnership
  • Required Business Information
    • Business address
    • Business mailing address if different than business address
    • Email address
    • Phone number
The following information is needed for Beneficial Owners. Beneficial Owners are individuals who directly or indirectly own 25% or more of the legal entity and/or the individual who has significant responsibility for managing the legal entity:
  • Name
  • Physical address
  • Date of birth
  • Social Security number
  • Valid government-issued ID
  • Phone number
  • Percentage of ownership
  • Title/position
  • TIN of Organization—Notice of EIN from the IRS
  • If incorporated, follow corporation guidelines
  • If tax-exempt, IRS documentation or tax return
  • If not tax-exempt, authorization letter
  • Meeting minutes showing signers and titles
  • Required Business Information
    • Business address
    • Business mailing address if different than business address
    • Email address
    • Phone number
The following information is needed for Beneficial Owners if incorporated. Beneficial Owners are individuals who directly or indirectly own 25% or more of the legal entity and/or the individual who has significant responsibility for managing the legal entity:
  • Name
  • Physical address
  • Date of birth
  • Social Security number
  • Valid government-issued ID
  • Phone number
  • Percentage of ownership
  • Title/position
  • TIN of Corporation—Notice of EIN from the IRS
  • Articles of Incorporation
  • Required Business Information
    • Business address
    • Business mailing address if different than business address
    • Email address
    • Phone number
The following information is needed for Beneficial Owners. Beneficial Owners are individuals who directly or indirectly own 25% or more of the legal entity and/or the individual who has significant responsibility for managing the legal entity:
  • Name
  • Physical address
  • Date of birth
  • Social Security number
  • Valid government-issued ID
  • Phone number
  • Percentage of ownership
  • Title/position

Since you're interested in Simply Free Business Checking, you could also consider:

Business Bank Online Positive Pay

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